Quick answer
The median home in Cape Coral costs $485K. With 20% down ($97K) at 7% for 30 years, the monthly payment is $2,581/month. Total interest paid over 30 years: $541,295.
Calculator · FL · 2026
Mortgage Calculator for Cape Coral, FL (2026)
Pre-filled with Cape Coral's median home price of $485K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Cape Coral Mortgage Payment Scenarios
Median home price: $485K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $24,250 | $460,750 | $3,065 | $4,141 | $642,787 |
| 10% | $48,500 | $436,500 | $2,904 | $3,923 | $608,956 |
| 20% | $97,000 | $388,000 | $2,581 | $3,487 | $541,295 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Cape Coral
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $485K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$485K home · 20% down ($388K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Cape Coral?
The median home price in Cape Coral is $485K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,581. Adding estimated property taxes and insurance brings total monthly costs to approximately $3,066.
Is it cheaper to rent or buy in Cape Coral?
A 2-bedroom rental in Cape Coral averages $2,100/month. Buying the median $485K home with 20% down costs approximately $3,066/month (mortgage + taxes + insurance) — $966 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Cape Coral?
Using the 28% housing rule, you need at least $111K–131K in annual gross income to comfortably afford the median $485K home in Cape Coral with 20% down. You also need $97K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Cape Coral?
FL has a state income tax rate of None. Property taxes vary by county but on a $485K home, expect $404–$808/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.